🔥 #Bitcoin and stocks, although both can be affected by macroeconomic factors, still have a low correlation. In the last 90 days, this correlation has increased slightly from 0 to 0.26, but is still considered low. This shows that the prices of Bitcoin and stocks typically do not move together.
👉On the other hand, the dollar index plays a more important role in Bitcoin price. This index is affected by many macroeconomic factors such as inflation, interest rate differences between countries, and other factors. When the dollar index changes, it typically has a stronger impact on Bitcoin prices than stock prices.
👉Understanding this relationship can help us better evaluate the dynamics of the cryptocurrency market, especially Bitcoin, in the context of global economic fluctuations. This also highlights the importance of tracking the dollar index when analyzing Bitcoin's price trends.
